Not that I would really give a crap about the economy, but for those who do...
Bill Morneau says Canadian economy to rebound this year
Canada's economy should rebound "over the course of the year" from the impact of the Fort McMurray, Alta. wildfire, Finance Minister Bill Morneau said on Saturday on the sidelines of a G20 meeting in Chengdu, China.
The fire is estimated to have cut daily oil production by more than 1 million barrels and the Bank of Canada estimates it will shave 1.25 percentage points off economic growth in the second quarter.
"We were approximately right in our expectations in our budget," he said of Canada's fiscal plan introduced in March, which promised growth spurred by government spending. Speaking to reporters by telephone, Morneau said the country's growth was also challenged by global uncertainty following Britain's vote last month to exit the European Union, but that was offset by the strong U.S. economy.
Trudeau stays polite as Trump rages against NATO and NAFTA
Morneau also said Canada wants a separate trade deal with Britain. Canada is finalizing a free trade agreement with the EU, which negotiates on behalf of member states. Britain's decision to leave the bloc means it has to eventually forge such deals on its own.
"We seek the opportunity to develop a strong trade agreement with the United Kingdom, and that's something that I know my colleague [International Trade Minister] Chrystia Freeland will be working on," Morneau said.
At the summit, the world's leading economies agreed to do more to lift global growth and share the benefits more broadly, as they sought to deal with fallout from Brexit and counter dissatisfaction with globalization.
Bill Morneau says Canadian economy to rebound this year - World - CBC News
Bill Morneau says Canadian economy to rebound this year
Canada's economy should rebound "over the course of the year" from the impact of the Fort McMurray, Alta. wildfire, Finance Minister Bill Morneau said on Saturday on the sidelines of a G20 meeting in Chengdu, China.
The fire is estimated to have cut daily oil production by more than 1 million barrels and the Bank of Canada estimates it will shave 1.25 percentage points off economic growth in the second quarter.
"We were approximately right in our expectations in our budget," he said of Canada's fiscal plan introduced in March, which promised growth spurred by government spending. Speaking to reporters by telephone, Morneau said the country's growth was also challenged by global uncertainty following Britain's vote last month to exit the European Union, but that was offset by the strong U.S. economy.
Trudeau stays polite as Trump rages against NATO and NAFTA
Morneau also said Canada wants a separate trade deal with Britain. Canada is finalizing a free trade agreement with the EU, which negotiates on behalf of member states. Britain's decision to leave the bloc means it has to eventually forge such deals on its own.
"We seek the opportunity to develop a strong trade agreement with the United Kingdom, and that's something that I know my colleague [International Trade Minister] Chrystia Freeland will be working on," Morneau said.
At the summit, the world's leading economies agreed to do more to lift global growth and share the benefits more broadly, as they sought to deal with fallout from Brexit and counter dissatisfaction with globalization.
Bill Morneau says Canadian economy to rebound this year - World - CBC News
